Definition of gold reserve in English:
A quantity of gold held by a central bank to support the issue of currency.
- Many governments no longer base their treasuries on the so-called gold standard though the United States, Austria and other countries maintain a gold reserve.
- Many people then exchanged silver money for gold and the Treasury's gold reserve became seriously depleted.
- Unlike gold certificates, with 100% gold backing, Federal Reserve Notes only had a 40% gold reserve behind them, enabling a dramatic expansion of the currency.
Definition of gold reserve in:
- British & World English dictionary
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